Still one owner that has 8000 series B warrants. Following our recent share consolidation, there now remain outstanding approximately 8,000 Series B Warrants held by a holder who was not a party to the November 1 agreement.
You don't! With only a million shares or less available to the retail trader, this could go to $100. 00 before it pulls back. Not pumping, just know that this is a very dangerous stock to short.
What was the great news?? That both of the Phase 3 trials that the one product in their pipeline failed?
KBIO has 2 products in Phase 2 clinical trials that have the possibility of being developed into a viable cancer drug . This company on the other hand had 1 product in two Phase 3 trials and both trials failed, big difference.
If you truly shorted, you are playing with fire. Shkreli's group has tied up 70% of its outstanding shares, that leaves only about 1 million shares that are available to trade, that is a very dangerous short trade.. There is a good chance this thing could just keep rocketing up, there does not need to be news. There has been a feeding frenzy started, the shares will just churn between buyers, sellers and shorts.
This is a company with no revenue and 2 products still many years away from coming to market.The
company's product candidates include KB004, which is in a Phase II clinical trial for the treatment of
myelodysplastic syndrome and myelofibrosis; and KB003 that completed Phase II clinical trial to treat chronic myelomonocytic leukemia. They were closing their doors.
Now just because Martin Shkreli aquires 30% of the outstanding shares it's worth $19.00 a share? I don't think so...
Totally agree with you.
On paper, Shkreli likely made a return of over 1,000 percent from the trade -- a profit of more than $17 million -- if he were to sell at current prices.
KaloBios, a stock with near 10 percent of its float short at the end of last month, said last Friday it would wind down operations and liquidate assets, adding that any expectation of strategic alternatives were "highly ulikely." The company said it would discontinue two development programs, in Phase 1 and Phase 2 stage, adding it would not be able to file its Form 10-Q for the third quarter.
He bought them on the open market, they are not restricted securities as such I do not believe that they is any time limit on selling them.
Shkreli now owns 1.6 million shares, making him Kalobios' largest shareholder with a 39 percent stake and this is after the announcement that they are closing the business down. He bought shares at prices ranging between 61 cents and $2.43 each on Monday and Tuesday. The only reason I can figure, is he assumed there would be a huge spike in share price once news of his purchase was released, because of the low float 4.1 million and he controls 39%. I'm sure he will be locking in those profits fast and furious to make back the money he lost on Valeant Pharmaceuticals International Inc after it was accused of accounting irregularities.
Martin Shkreli Buys 1,211,115 Of Kalobios Pharmaceuticals @$1.35/Share that's why it's up, but I still don't understand if they are closing their business down. It does not help the company. If I was him I'd be selling as fast as I could.
I would be unloading them as fast as I could!
Do you think he'll start selling all of those shares off at these prices?? He just made a fortune!
Who is the insider, I don't see his name anywhere on their website, not management or board of directors. Enlighten me if you know, please!
Board of Directors??
This thing is flying because somebody bought 1,211,115 shares from November 16, 2015-November 17, 2015 after it was announced that they are closing there business down??? Are you kidding, maybe if it was someone to do with the company but this is not from what I can tell.
Nov 13 (Reuters) - Drug developer KaloBios Pharmaceuticals Inc said it would wind down its operations and that it had engaged restructuring firm Brenner Group to help liquidate its assets.
The company said it was highly unlikely that exploring strategic options could generate a viable transaction within the time frame, given its limited cash resources.
Does not sound to me like a company whose stock price should be up over 100% in the past two days...someone's going to get burned!!!